August 4, 2002


Barons of bankruptcy (Financial Times, 8/01/02)
An FT investigation has found that the top management of the 25 biggest recent US corporate collapses amassed $3.3bn from share sales, payoffs and other rewards. [...]

In this special report we examine who made those fortunes, how they did so even as their companies were heading for bankruptcy, and what lessons can be learned by regulators and corporate governance reformers.

It seems unfair to the great robber barons to refer to these guys as "Barons". After all, even J. P. Morgan said that CEOs shouldn't make more than twenty times the average salary of their employees. The series is just devastating. These guys should be in prison somewhere. Posted by Orrin Judd at August 4, 2002 8:59 AM
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